Microchip Technology (MCHP)

• Market cap: $33.7B
• 1 day: -4.18%
• 5 days: -13.08%
• 1 month: -16.44%
• 3 months: -22.68%
• 6 months: -34.08%
• Year to date: -27.38%
• 1 year: -23.81%
• 5 years: 32.90%
• 10 years: 187.95%
• Sector: Information Technology
• Industry: Semiconductors & Related Devices

About: Microchip Technology became an independent company in 1989 when it was spun off from General Instrument. More than half of revenue comes from MCUs, which are used in a wide array of electronic devices from remote controls to garage door openers to power windows in autos. The company's strength lies in lower-end 8-bit MCUs that are suitable for a wider range of less technologically advanced devices, but the firm has expanded its presence in higher-end MCUs and analog chips as well.

Employees: 22,300

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

34% more call options, than puts

Call options by funds: $943M | Put options by funds: $707M

2.36% less ownership

Funds ownership: 94.32% [Q2] → 91.96% (-2.36%) [Q3]

7% less funds holding

Funds holding: 1,224 [Q2] → 1,138 (-86) [Q3]

15% less capital invested

Capital invested by funds: $46.3B [Q2] → $39.4B (-$6.91B) [Q3]

18% less repeat investments, than reductions

Existing positions increased: 402 | Existing positions reduced: 489

50% less first-time investments, than exits

New positions opened: 87 | Existing positions closed: 173

56% less funds holding in top 10

Funds holding in top 10: 16 [Q2] → 7 (-9) [Q3]

Research analyst outlook

11 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $70 11% upside
• Avg. target: $87 38% upside
• High target: $95 51% upside

11 analyst ratings

• positive: 9 82%
• neutral: 2 18%
• negative: 0 0%

Citigroup Christopher Danely 56% 1-year accuracy 14 / 25 met price target	30% upside $82	Buy Maintained	6 Nov 2024
Jefferies Blayne Curtis 53% 1-year accuracy 24 / 45 met price target	43% upside $90	Buy Maintained	6 Nov 2024
TD Cowen Joshua Buchalter 14% 1-year accuracy 1 / 7 met price target	11% upside $70	Hold Maintained	6 Nov 2024
Evercore ISI Group Mark Lipacis 59% 1-year accuracy 29 / 49 met price target	51% upside $95	Outperform Reiterated	6 Nov 2024
Susquehanna Christopher Rolland 52% 1-year accuracy 40 / 77 met price target	43% upside $90	Positive Maintained	6 Nov 2024